Cypress-based Universal Electronics Inc., a maker of universal remote controls and related wireless devices, made a big acquisition earlier this month.
Universal bought China’s Enson Assets Ltd. for about $110 million in cash and stock.
Enson makes remote controls for TV makers.
As part of the deal, Universal Electronics also gets two Enson subsidiaries, CG Development Ltd. and CG Technology Ltd.
The buy expands Universal Electronics business with existing customers and gives it a foothold in Asia.
The acquisition “significantly increases our market share,” Chief Executive Paul Arling said.
With Enson under its belt, Universal Electronics is set to add Sony Corp., Panasonic Corp. and Toshiba Corp. as customers.
The deal is set to add some $140 million to Universal Electronics’ yearly revenue and about $13 million to its profits next year, according to Chief Financial Officer Bryan Hackworth.
The company reported profits of $5 million on sales of $79 million in the third quarter.
Universal Electronics sees about $300 million in yearly sales and had a recent market value of $375 million.
Wall Street liked the deal with investors sending Universal Electronics’ shares up about 30% on word of the buy in early November.
Targeting Soccer Moms
Irvine-based Local.com Corp., which runs a search engine for finding local businesses, has revamped its website to zero in on soccer moms.
The company said it’s providing search services that are geared toward women ages 25 to 45 who have kids.
“The site incorporates many new features and improved functionality, including the ability for users to engage in their communities by sharing information, reviewing and becoming fans of local businesses,” the company said.
The new site includes search functions that find coupons, including local deals, online coupon codes and weekly grocery fliers.
The company also redid its logo.
“The new Local.com is a massive improvement in our ability to serve our household manager target demographic,” said Rajan Mohan, general manger of Local.com’s owned and operated business unit.
Local.com’s search engine directs users to local businesses via Internet searches such as “dry cleaners in Costa Mesa.”
Users also have access to reviews, links to local websites, maps, directions and other features.
The company makes money from advertising and from embedding its search functions into other websites.
The company said it’s expecting to see profits of $3 million to $3.5 million on sales of $22 million to $23 million for the current quarter.
Analysts, on average, are looking for adjusted profits of $3 million on sales of $24 million.
Local.com’s shares are off 15% in the past 12 months on a market value of about $70 million.
Tech Coast Event
Tech Coast Venture Network, a local nonprofit that helps startups, last month hosted an event for fielding interesting new products.
The event, which took place at the offices of Irvine patent law firm Knobbe Martens Olson & Bear LLP, had a “Survivor” theme that sought to weed out the strongest ideas.
The aim of the event was to get potential investors interested in new business concepts.
This year, ideas included a volleyball training aid, a personal sound device for video game players and an electronic locator device for personal belongings.
The winner was Tennessee’s Earbits Inc., an online radio software application that helps bands connect with new listeners.
“The event offered an immense opportunity for these individuals to have their ideas heard by potential investors, answer probing questions about their business ideas and get advice about what worked and didn’t work with their concept,” said Bart Greenberg, chairman of Tech Coast Venture Network.
Last year’s winner was Irvine-based Zipz Systems, a maker of interchangeable shoe parts that can be removed and cleaned.
Smartphone Growth
Local makers of chips, printed circuit boards, software and other parts for smartphones have the wind at their backs as the market continues to grow at a rapid clip.
Makers of smartphones reported that they shipped some 80 million units in the third quarter, up nearly 90% from a year earlier, according to data from Framingham, Mass.-based market researcher International Data Corp.
For the first three quarters of 2010, phone makers have shipped 200 million phones, up 68% from a year earlier, the data showed.
“That the smartphone market has grown nearly 90% from last year and more than six times the overall mobile phone market indicates strong demand,” said Ramon Llamas, senior research analyst at IDC.
That’s good news for Irvine-based chipmaker Broadcom Corp., Anaheim’s Multi-Fineline Electronix Inc., a maker of flexible circuit boards for phones, and Smith Micro Software Inc., which makes software for phones.
According to IDC, the top five smartphone makers are Nokia Corp., Apple Inc., Research in Motion Ltd., Samsung Group and HTC Corp.
